The executives of Carnival Corporation have revealed that it is planning to raise its spending on advertising as well as marketing in the fourth fiscal quarter ending on 30th November, 2017 with a aim to bring about a decent increase in the number of cruise bookings.
Arnold Donald, the CEO has declared that they have increased their full year cost guidance to a certain extent for additional revenue-generating opportunities.
The company did not specify about how much more it would be doling out. But then, based on the spending of last year, the additional investment is likely to hover around $40 million. The ticket prices and revenues in many portions of the world have been higher year-over-year. But yet, China continues to struggle.
David Bernstein who is the chief financial officer said that the additional finances would be pooled in the four proprietary television programs.
In addition, the advertising efforts would continue to optimize the booking momentum for the year 2018 and beyond. Carnival had launched some original television shows last year and currently it boasts of programs that are running on Saturday mornings on the NBC, ABC, A&E Network and so on. These interesting shows focus on family tales, offbeat discoveries, adventure travel, cocktails and much more.
Furthermore, additional marketing plans for individual brands are always underway, as per a statement of the company.
Holland America Line, Princess Cruises, Seabourn, Costa Cruises, P&O Cruises, Carnival Cruise Line, etc. are some of the several cruise liners under the umbrella of the Carnival brand. Donald said that the focus, however would be on the core markets in the US and Europe. He stated that Carnival is also planning for some amount of investment in ‘onboard efforts’ on certain ships too.
And, Donald has mentioned that this company has planned to save nearly $75 million per year in terms of costs.